Shortly after Hurricanes Helene and Milton wreaked their damage in Pinellas County, Florida in the Fall of 2024, our phones started to ring. Property Owners with flood damaged houses needed building permits to make repairs. Municipal and county regulations required property owners to to demonstrate the cost of necessary repairs would not exceed 50% (in some cases 49%) of the value of the existing improvements. Local governments adopted these regulations to ensure property owners within their jurisdictions had access to Flood Insurance subsidized through the National Flood Insurance Program.
There are a couple of ways property owners can demonstrate compliance with what is known as the "FEMA 50% Rule". In Pinellas County, Florida, the first step is often to visit the Pinellas County Property Appraiser's website. Property owners will find many of their questions answered in the "After the Storm Answers" Frequently Asked Questions page. This will inform readers how to find a FEMA 50% (49%) Rule Letter. That might indicate the Actual Cash Value of the existing improvements is sufficient for the local government to issue a permit. Our phones were ringing because the Actual Cash Value from the Pinellas County Property Appraiser was short of what was needed.
When your house and yard look like this, you are concerned.
We completed many appraisals for the purpose of providing an opinion of the Actual Cash Value of the existing improvements to comply with Federal Emergency Management Agency and local government regulations. The Effective Date of the Appraisal was September 25, 2024, the day prior to damage as a result of Hurricane Helene. Our value opinion assumed there was no damage. This method complies with the applicable regulations.
At times, that was difficult because the interior of the residence looked like this.
In each and every instance, we asked the homeowner for photographs of the interior and exterior of the house PRIOR to damage. Not only did this allow us to visualize the features, finish, quality, and construction of the residence, we we able to document our findings for local government building officials and flood plain managers by including photographs in our appraisal report.
Here's a suggestion: Spend a little time taking photographs of the interior and exterior of your house prior to the next storm. Pay attention to documenting recent updates and remodeling of the kitchen and bathrooms. Document recent updates to heating and air conditioning, built in appliances, and electrical and plumbing systems. In addition to the receipts from contractors, make sure you have photographs of your new flooring, new windows, and new roof.
Note: photograph EVERYTHING, even if it's not new. Save your photos to a device that cannot be lost, or to the cloud.
A little preparation now could save a lot of time if you experience damage in the future. It may help you get a permit for the repairs you really need instead of facing the dread not meeting the 50% threshold.
Keep in mind, we have been completing appraisals for Actual Cash Value for over 25 years, helping homeowners comply with FEMA Requirements to obtain building permits. The rules for obtaining a permit apply if your property is located in an identified Special Flood Hazard Area, even if there is no damage. Please give us a call if you have questions or if you need assistance.
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